1st Dec 2015 08:39
LONDON (Alliance News) - McColl's Retail Group PLC on Tuesday said its sales grew in the fourth quarter and for the full year and said its like-for-like sales decline eased in the fourth quarter.
The convenience store operator said its total sales for the 13 weeks to November 29 rose 2.7% and were up 3.1% for the 52 weeks to that date. Like-for-like sales in the fourth quarter fell 1.8%, a 50 basis point improvement on the decline in the third quarter.
For the full year, like-for-like sales were down 1.9%, with premium convenience and food and wine sales down 0.6% but standard convenience and newsagents sales down 4.0%.
McColl's is in the process of expanding its premium convenience store base and is on track to hit 1,000 stores by the end of 2016. It added its post office services offering has also continued to grow.
"I am delighted to report significant progress on our strategic initiatives for the financial year, continuing our expansion into convenience and capturing further market share," said James Lancaster, McColl's chief executive. "We therefore expect results to be in line with the board's expectations for the year."
Shares in McColl's were down 0.5% to 136.38 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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